惠好公司(纽约证券交易所代码:WY)今天公布2005年净收益为7.33亿美元，摊薄每股2.98美元，净销售额为226亿美元。相比之下，2004年全年净销售额为219亿美元，净利润为13亿美元，摊薄后每股收益为5.43美元。

（标志：http://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-ahttp://www.newscom.com/cgi-bin/prnh/20040116/WYLOGO-b)

2005年第四季度，惠好公布净亏损2.11亿美元，摊薄后每股亏损86美分，净销售额为59亿美元。去年，惠好公布第四季度净利润为1.99亿美元，稀释后每股收益为82美分，净销售额为57亿美元。

2005年第四季度的亏损包括以下税务项目： - 为4.38亿美元或每次摊薄股份收取1.78美元，用于关闭设施。- 为额外资产减值收费，每股3200万美元或13美分的费用。- 与诉讼结算有关的2500万美元，或每次稀释股份的10美分。- 损失1000万美元，或每次摊薄股份4美分，以便早日灭绝债务。- 在销售本公司法国复合板资产上的3400万美元，或每股13美分。- 收入为2800万美元，或每股12美分，用于改变的累积效力，开始将Weyerhaeuser对Weyerhaeuser房地产公司资产的资产。2004年第四季度收益包括以下税后项目： - 亏损3400万美元，或每次摊薄股份14美分，以便早日灭亡。- 在销售设施的收益，收益2400万美元，或每股10美分。- 为本公司法国复合板公司业务的资产减值，收取1900万美元，或每次摊薄股份的8美分。- 根据估算工人赔偿负债的方法的变化，收取1600万美元，或每次摊薄股份的7美分。 -- A charge of $15 million, or 6 cents per diluted share, for the net book value of technology donated to a university.

2005年期间，Weyerhaeuser正在进行的战略审查导致了以下重大行动：

--出售其不列颠哥伦比亚省沿海业务、法国复合板业务和层合梁设施；——宣布打算出售其北美和爱尔兰复合板资产、一家纸浆厂、三家瓦楞纸板厂和一家特种包装厂；关闭一家造纸厂、一家特种纸浆厂、一台精细造纸机、一台纸板机、一家大型原木锯木厂、七家瓦楞纸加工厂、两家硬木厂、一家制袋厂、一家工字钢厂以及一家单板和胶合板厂。

董事长、总裁兼首席执行官Steven R. Rogel说:“尽管商业环境极具挑战性，我们在2005年采取了重大措施，使我们更有竞争力，并使我们在向股东返还现金的同时产生更大的回报。”“我们强大的现金流使我们能够将债务偿还到目标水平，实现25%的股息增长，并启动股票回购计划。我们还开始重组我们的木材产品、纸板和包装业务，将其整合到供应链manbetx apk手机版中，并继续发展我们的房地产业务。在2006年，我们将继续面对我们的业务所面临的挑战，以创建一个更强大的公司为目标。”

第四季度财务亮点数百万（每股数据除外）4季度2005年4Q年4Q 2004年5月净收入（亏损）（211美元）$ 199（$ 410）每次摊薄股份（$ 0.86）$ 0.82（$ 1.68）净销售$ 5,868 $ 5,685 $ 183概要年度财务摘要百万（每股数据除外）2005年2004年变动净收益$ $ 733 1,283（$ 550），摊薄后每股收益$ 2.98 $ 5.43（$ 2.45）净销售额$ 22629 $二一九三一$ 698分部业绩第四季度财报（贡献税前盈利）数以百万计4Q2005年4Q 2004年4季度改变Timberlands $ 183 $ 217（$ 34）木manbetx apk手机版制品$ 26 $ 72（$ 46）纤维素纤维和白皮书（$ 477）$ 35（$ 512）CONTER板，包装和回收（$ 188）$ 81（$ 269）房地产和相关资产$ 250 $ 217 $ 33 timberlands2005年第4季度2005年3季度为税前收益进行贡献（数百万美元）$ 191 $ 191（8美元）

第四季度收入较第三季度略有下降，主要原因是卡特里娜飓风相关的打捞成本以及伐木和运输的持续高燃料成本。由于加拿大萨斯喀彻温省阿尔伯特王子纸浆造纸厂宣布关闭，第四季度业绩还包括300万美元的税前林地遣散费。

国内外日志价格的持续实力应生产与2005年第四季度相似的第一季度收益。

manbetx apk手机版木制品2005年4Q 2005年3季度为税前收益进行贡献（百万）$ 26 $ 124（98美元）

第四季度的收入包括9100万美元的税前费用，这些费用与关闭俄克拉荷马州莱特城的一家胶合板厂、关闭华盛顿州阿伯丁的一家木材厂以及关闭萨斯喀彻温省大河的一家木材厂有关。第三季度收入包括与设施关闭相关的600万美元税前费用。

不包括收费，收益从第三季度降低了1300万美元。飓风后对结构板的需求增加，并导致本季度早期飙升的面板价格，但面板价格在本季度晚些时候恢复正常季节性水平。由于季节性因素，软木木材的价格和体积下降。工程木材产品的装运卷平均下降了第三季度。

面板的制造成本在第四季度增加，主要是由于天然气价格的大幅上涨。由于定向刨花板价格较高，工程木材产品的制造成本增加。

该公司在第四季度销往美国，加拿大软木木材的反倾销职责和有关费用，并在第三季度销往美国的反倾销职责及相关费用。从12月开始，该公司支付了13.1％的合并税率，从2004年12月起生效的25.9％的税率下降。在这种新的利率下，该部分预计每季度约为每季度1000万美元的职责和相关费用.

Weyerhaeuser预计2006年第一季度盈利与2005年第四季度特定费用收益相比。在第一季度，对木材产品的需求应遵循正常的季节性趋势，定价与第四季度相似。manbetx apk手机版由于能源和原材料成本更高，该公司预计生产费用会增加。

纤维素纤维及白皮书2005年第4季度2005年第3季度税前收入的变化贡献(费用)(百万美元)(477美元)(2美元)(475美元)

在第四季度，Weyerhaeuser记录了与普通王子纸浆和纸张运营普通王子扣上的税务收费有42700万美元的税务费用。由于能源，货运，化学品和原料成本更高，制造成本继续升级。细纸和纸浆的价格保持不变。精致的纸张卷适度地增加，而纸浆经历了常规季节性下降的货物。

宣布市场纸浆的第一季度价格上涨，优先纸张应导致2006年第一季度的收益，尽管持续成本持续。

电容器板，包装和回收4 Q 2005年3Q 2005年3季度改变捐款（收费）到税前收入（数百万美元）（$ 188）$ 36（$ 224）

第四季度盈利包括与关闭几家工厂相关的1.3亿美元税前费用，以及与衬垫板反垄断诉讼和解相关的3800万美元税前费用。扣除费用后的收益较第三季度显著下降，原因是包装盒价格下降，加上能源和运输成本上升。第四季度，旧瓦楞纸箱(OCC)的成本较低。

该公司预计价格较高，提高箱材出货量和较低的OCC成本，以导致细分市场的第一季度收益。

房地产及相关资产4Q 2005年3Q 2005年3季度为税前收入进行贡献（百万美元）$ 250 $ 145 $ 105

第四季度的收益较第三季度有所增长，主要是由于预期的强劲单户住宅关闭和更高的单户利润率，部分被与北加利福尼亚州未改良土地相关的3300万美元税前减值费用所抵消。

在第四季度结束时，销售的积压，但未结束，与年前的水平相当。由于单户住宅闭合的正常季节性下降，Weyerhaeuser预计2006年第一季度收益。

其他

该公司将于2月7日星期六举行一张现场电话会议电话（东部10 A.M.东部），讨论第四季度结果。

要访问电话会议，北美地区的听众应在电话会议开始前至少15分钟拨打1-888-221-5699。希望从北美以外地区拨打电话的人应拨打1-706-643-3795。现场通话结束后一周内可重播该电话，并可在北美境内拨打1-800-642-1687（接入码-3890458）或从北美以外拨打1-706-645-9291（接入码-3890458）进行访问。

电话正在网上播放，可以通过惠好的网站访问http://investor.weyerhaeuser.com/点击“2005年第四季度收益电话会议”链接。

Web演员也正在通过Thomson StreetEvents网络分发给机构和个人投资者。万博电竞个人投资者可以在www万博电竞.fulldisclosure.com，Thomson / CCBN的个人投资者门户网站上聆听电话，由STREFEEVENTS提供动力。机构投资者可以通过汤姆森的受万博电竞密码保护的活动管理网站，STREESEVENTS（www.streetevents.com）访问呼叫。

Weyerhaeuser公司是世界上最大的综合林产品公司之一，于1900年注册成立。2005年，销售额为226亿美元。它在全球客户提供18个国家的办事处或运营。Weyerhaeuser主要从事木材的不断增长和收获;林产品的制造，分销和销售;和房地产建设，发展和相关活动。有关Weyerhaeuser的业务，产品和实践的其他信息//www.noirla.com/.

本新闻稿包含有关公司未来业绩和业绩的声明，这些声明是1995年《私人证券诉讼改革法案》意义上的前瞻性声明。可以识别这些前瞻性陈述使用前瞻性的术语如“期望”,“可能”“将”,“相信”“应该”“大约”,预计,“”估计,”和“计划”,这些术语的负面或其他变化或类似的术语或讨论的策略,计划或意图。特别是，其中一些前瞻性陈述涉及对公司2006年第一季度市场的预期;2006年第一季度公司各业务部门的预期收益和业绩，2006年第一季度公司产品的需求和定价，2006年第一季度原材料、能源、化工、运输和制造成本的上升，2006年第一季度单户住宅成交的季节性放缓及相关事宜。这类声明的准确性受若干风险、不确定性和假设的影响，这些风险、不确定性和假设可能导致实际结果与预测存在重大差异，包括但不限于:

- 一般经济状况的影响，包括利率水平和住房的开始;- 公司对公司产品的需求，可能与各种美国商业领域的相对实力相关联;- 能源价格;- 原材料价格;- 化学价格;- 公司的制造业务的表现;- 成功执行内部绩效计划;- 来自国内外生产商的竞争程度;- 林业，土地利用，环境和其他政府法规的影响，以及会计法规的变化;- 天气的影响; -- The risk of loss from fires, floods and other natural disasters; -- Transportation costs; -- Legal proceedings; and -- Performance of pension fund investments and related derivatives.

该公司还一大出口国和影响经济活动的变化在欧洲和亚洲,尤其是日本,货币汇率的变化,特别是相对价值的美元欧元和加元,和限制国际贸易或征收进口关税,包括对该公司从加拿大运往美国的软木材征收的反补贴和反倾销税。这些因素和其他因素可能导致或促成与前瞻性陈述有实质不同的实际结果，因此，不能保证前瞻性陈述所预期的任何事件将会发生，或如果其中任何事件发生，他们将对公司的经营结果或财务状况产生什么影响。本公司明确拒绝任何义务公开修订任何前瞻性声明，这些声明是在本新闻稿发布日期之后做出的，以反映事件的发生。

有关更多信息联系人：Media  -  Bruce Amundson 253-924-3047分析师 -  Kathryn McAuley 253-924-2058 Weyerhaeuser公司统计信息（未经审计）综合收益Q1 Q2（数百万）3月27日，3月28日，6月26日，6月27日，2005 2004 2005 2004年净销售和收入：Weyerhaeuser（1）$ 4,716 $ 4,418 $ 5,160 $ 5,179房地产和相关资产655 469 648 524总净销售和收入5,808 5,703 5,808 5,703费用和费用：Weyerhaeuser：产品成本3,621 3,408 3,947 3,766折旧，耗尽和摊销323 315 325 316销售费用117 119 119 118 121一般和行政费用223 238 233 233研究和开发费用14 12 12 12 12税收和所得税以外的税收46 48 48 47融入和重组的费用5 15 4 13设施封闭的收费5 4 3  - 其他运营成本，净（2）（3）9 17（40）43 4,363 4,176 4,634 4,552房地产和相关资产：成本和运营费用426 321 441 381 DEpreciation and Amortization 3 2 4 4销售费用33 27 36 30一般和行政费用24 17 25 19税收和所得税以外的税收1 1  - 其他运营成本，净 -  1（2）1长 -居住的资产 -   -   -   -  487 369 504 435总费用和费用4,850 4,545 5,138 4,987营业收入521 342 670 716利息费用和其他：Weyerhaeuser：威尔霍夫斯：息息费（4）（196）（195）（218）利息利息化 -  3 2 1利息收入和其他27 3 20 5个收入（亏损）的收入（5） -   -  4 7房地产和相关资产：令人利息费用（14）​​（15)(14) (14) Less interest capitalized 14 15 14 14 Interest income and other 5 11 (2) 9 Equity in income of unconsolidated entities 10 9 13 20 Earnings before income taxes 367 173 528 540 Income taxes (6) (128) (57) (229) (183) Earnings from continuing operations 239 116 299 357 Earnings from discontinued operations, net of taxes (7) -- 5 121 12 Net earnings $239 $121 $420 $369 Basic net earnings per share: Continuing operations $0.98 $0.52 $1.23 $1.52 Discontinued operations -- 0.02 0.49 0.05 Net earnings per share $0.98 $0.54 $1.72 $1.57 Diluted net earnings per share: Continuing operations $0.98 $0.52 $1.22 $1.52 Discontinued operations -- 0.02 0.49 0.05 Net earnings per share $0.98 $0.54 $1.71 $1.57 Dividends paid per share $0.40 $0.40 $0.50 $0.40 Weighted average shares outstanding (in thousands) Basic 242,863 223,728 244,702 234,494 Diluted 244,185 225,072 245,881 235,475 CONSOLIDATED EARNINGS Q3 Q4 (in millions) Sept. 25, Sept. 26, Dec. 25, Dec. 26, 2005 2004 2005 2004 Net sales and revenues: Weyerhaeuser (1) $4,986 $5,065 $4,852 $4,774 Real Estate and Related Assets 596 591 1,016 911 Total net sales and revenues 5,582 5,656 5,868 5,685 Costs and expenses: Weyerhaeuser: Costs of products sold 3,912 3,735 3,980 3,706 Depreciation, depletion and amortization 327 314 332 318 Selling expenses 118 122 108 119 General and administrative expenses 236 225 223 246 Research and development expenses 18 13 17 17 Taxes other than payroll and income taxes 69 51 16 48 Charges for integration and restructuring 2 8 10 3 Charges for closure of facilities 29 13 656 0 Other operating costs, net (2) (3) (32) (300) 3 7 4,679 4,181 5,345 4,464 Real Estate and Related Assets: Costs and operating expenses 401 414 677 647 Depreciation and amortization 4 3 5 5 Selling expenses 36 31 46 37 General and administrative expenses 27 19 28 26 Taxes other than payroll and income taxes 1 1 1 -- Other operating costs, net (2) (19) 1 -- Impairment of long-lived assets -- -- 33 -- 467 449 791 715 Total costs and expenses 5,146 4,630 6,136 5,179 Operating income 436 1,026 (268) 506 Interest expense and other: Weyerhaeuser: Interest expense incurred (4) (193) (184) (171) (241) Less interest capitalized 3 0 4 5 Interest income and other 143 7 24 9 Equity in income (loss) of affiliates (5) 2 4 (12) 3 Real Estate and Related Assets: Interest expense incurred (13) (14) (14) (14) Less interest capitalized 13 14 14 14 Interest income and other 4 1 5 10 Equity in income of unconsolidated entities 14 12 20 11 Earnings before income taxes 409 866 (398) 303 Income taxes (6) (120) (293) 153 (94) Earnings from continuing operations 289 573 (245) 209 Earnings from discontinued operations, net of taxes (7) (4) 21 34 (10) Net earnings $285 $594 $(211) $199 Basic net earnings per share: Continuing operations $1.17 $2.37 $(1.00) $0.86 Discontinued operations (0.01) 0.09 0.14 (0.04) Net earnings per share $1.16 $2.46 $(0.86) $0.82 Diluted net earnings per share: Continuing operations $1.17 $2.36 $(1.00) $0.86 Discontinued operations (0.01) 0.09 0.14 (0.04) Net earnings per share $1.16 $2.45 $(0.86) $0.82 Dividends paid per share $0.50 $0.40 $0.50 $0.40 Weighted average shares outstanding (in thousands) Basic 245,009 241,621 245,215 242,114 Diluted 246,190 242,649 246,198 243,472 CONSOLIDATED EARNINGS Year ended (in millions) Dec. 25, Dec. 26, 2005 2004 Net sales and revenues: Weyerhaeuser (1) $19,714 $19,436 Real Estate and Related Assets 2,915 2,495 Total net sales and revenues 22,629 21,931 Costs and expenses: Weyerhaeuser: Costs of products sold 15,460 14,615 Depreciation, depletion and amortization 1,307 1,263 Selling expenses 461 481 General and administrative expenses 899 942 Research and development expenses 61 55 Taxes other than payroll and income taxes 179 194 Charges for integration and restructuring 21 39 Charges for closure of facilities 693 17 Other operating costs, net (2) (3) (60) (233) 19,021 17,373 Real Estate and Related Assets: Costs and operating expenses 1,945 1,763 Depreciation and amortization 16 14 Selling expenses 151 125 General and administrative expenses 104 81 Taxes other than payroll and income taxes 3 2 Other operating costs, net (3) (17) Impairment of long-lived assets 33 -- 2,249 1,968 Total costs and expenses 21,270 19,341 Operating income 1,359 2,590 Interest expense and other: Weyerhaeuser: Interest expense incurred (4) (739) (838) Less interest capitalized 9 9 Interest income and other 214 24 Equity in income (loss) of affiliates (5) (6) 14 Real Estate and Related Assets: Interest expense incurred (55) (57) Less interest capitalized 55 57 Interest income and other 12 31 Equity in income of unconsolidated entities 57 52 Earnings before income taxes 906 1,882 Income taxes (6) (324) (627) Earnings from continuing operations 582 1,255 Earnings from discontinued operations, net of taxes (7) 151 28 Net earnings $733 $1,283 Basic net earnings per share: Continuing operations $2.38 $5.33 Discontinued operations 0.62 0.12 Net earnings per share $3.00 $5.45 Diluted net earnings per share: Continuing operations $2.36 $5.31 Discontinued operations 0.62 0.12 Net earnings per share $2.98 $5.43 Dividends paid per share $1.90 $1.60 Weighted average shares outstanding (in thousands) Basic 244,447 235,453 Diluted 245,559 236,546 (1) The first, second, third and fourth quarters of 2005 include charges of $22 million, $27 million, $19 million and $16 million, respectively, or $84 million year-to-date, for countervailing and anti-dumping duties and related costs. The first, second, third and fourth quarters of 2004 include charges of $26 million, $34 million, $31 million and $27 million, respectively, or $118 million year-to-date, for countervailing and anti- dumping duties and related costs. (2) The first, second, third and fourth quarters of 2005 include net foreign exchange gains (losses) of $13 million, ($13) million, $37 million and ($21) million, respectively, for a year-to-date net gain of $16 million. The first, second, third and fourth quarters of 2004 include net foreign exchange gains (losses) of ($9) million, ($7) million, $16 million and $27 million, respectively, for a total year-to-date net gain of $27 million. These gains and losses result primarily from fluctuations in Canadian and New Zealand exchange rates. (3) The first quarter of 2005 includes a $12 million charge for the settlement of a linerboard antitrust lawsuit. The second quarter of 2005 includes an $18 million charge related to alder litigation and $57 million of income related to the recognition of a deferred gain from previous timberlands sales. The third quarter of 2005 includes a $115 million gain on the sale of an investment in a joint venture. The fourth quarter of 2005 includes a $38 million charge for the settlement of linerboard antitrust litigation and $43 million of income for the cumulative effect of a change to begin capitalizing Weyerhaeuser interest to assets of Weyerhaeuser Real Estate Company. The first quarter of 2004 includes a $49 million charge for the settlement of lawsuits involving the market for Pacific Northwest alder logs and a $33 million gain on the sale of an oriented strand board mill in Slave Lake, Alberta. The second quarter of 2004 includes a $16 million charge resulting from an adverse judgment in a lawsuit involving the market for Pacific Northwest alder logs. The third quarter of 2004 includes a $271 million gain on the sale of timberlands in Georgia, and a $20 million gain due to the reduction of the reserve for hardboard siding claims. The fourth quarter of 2004 includes a net gain of $36 million on the sale of facilities, and charges of $24 million recognized in connection with a change in the method of estimating workers' compensation liabilities and $23 million for the net book value of technology donated to a university. (4) The third and fourth quarters of 2005 include charges of $21 million and $15 million, respectively, for the early extinguishment of debt. The second and fourth quarters of 2004 include charges of $21 million and $52 million, respectively, for the early extinguishment of debt. (5) The fourth quarter of 2005 includes a $15 million charge related to the impairment of an investment in an equity affiliate. (6) The second quarter of 2005 includes a charge of $44 million related to the repatriation of $1.1 billion of eligible Canadian earnings under the provisions of the American Jobs Creation Act of 2004. The third quarter of 2005 includes a one-time tax benefit of $14 million related to a change in the Ohio state income tax law. (7) Includes the net operating results of the company's coastal British Columbia and French composites operations. The second quarter of 2005 includes a gain of $110 million, including a tax benefit of $46 million, related to the sale of the coastal British Columbia operations. The third quarter of 2005 includes a $1 million charge related to the termination of pension plans associated with these operations. The fourth quarter of 2005 includes a pretax gain of $57 million and related tax expense of $23 million associated with the sale of the French composites operations. The third quarter of 2004 includes a $25 million gain from a tenure reallocation agreement with the British Columbia government. The fourth quarter of 2004 includes a $29 million charge for the impairment of assets in the French composites operations. WEYERHAEUSER COMPANY STATISTICAL INFORMATION (unaudited) Net sales and revenues (in millions): Q1 Q2 March 27, March 28, June 26, June 27, 2005 2004 2005 2004 Timberlands: Logs $182 $193 $195 $211 Other products 82 58 63 66 264 251 258 277 Wood Products: Softwood lumber 892 819 1,032 1,106 Plywood 183 221 196 263 Veneer 13 11 10 12 Composite panels 120 108 132 133 OSB 288 338 306 456 Hardwood lumber 94 90 102 100 Engineered I-Joists 160 134 213 178 Engineered Solid Section 190 148 241 194 Logs 27 23 24 38 Other products 272 255 339 312 2,239 2,147 2,595 2,792 Cellulose Fiber and White Papers: Pulp 376 339 355 371 Paper 599 535 611 538 Coated groundwood 42 36 47 37 Liquid packaging board 47 49 52 53 Other products 14 10 12 13 1,078 969 1,077 1,012 Containerboard, Packaging and Recycling: Containerboard 117 81 101 80 Packaging 898 853 969 918 Recycling 92 80 92 91 Bags 22 19 21 18 Other products 34 33 40 34 1,163 1,066 1,223 1,141 Real Estate and Related Assets 655 469 648 524 Corporate and Other 149 135 151 147 Less sales of discontinued operations (177) (150) (144) (190) $5,371 $4,887 $5,808 $5,703 Contribution (charge) to earnings: Q1 Q2 (in millions) March 27, March 28, June 26, June 27, 2005 2004 2005 2004 Timberlands (1)(2) $200 $159 $210 $201 Wood Products (3)(4)(5)(6) 131 173 204 448 Cellulose Fiber and White Papers (7) 19 (25) 16 14 Containerboard, Packaging and Recycling (8)(9) 48 24 99 62 Real Estate and Related Assets (10) 183 120 156 118 Corporate and Other (11)(12)(13) (17) (76) 99 (67) $564 $375 $784 $776 Net sales and revenues (in millions): Q3 Q4 Sept. 25, Sept. 26, Dec. 25, Dec. 26, 2005 2004 2005 2004 Timberlands: Logs $188 $197 $196 $221 Other products 65 51 76 105 253 248 272 326 Wood Products: Softwood lumber 889 1,089 811 901 Plywood 184 237 172 208 Veneer 9 11 12 10 Composite panels 122 138 123 122 OSB 267 341 303 255 Hardwood lumber 95 89 99 86 Engineered I-Joists 202 189 181 177 Engineered Solid Section 244 203 221 189 Logs 6 32 5 32 Other products 326 315 290 280 2,344 2,644 2,217 2,260 Cellulose Fiber and White Papers: Pulp 381 381 370 380 Paper 604 583 603 570 Coated groundwood 45 39 46 44 Liquid packaging board 50 53 54 53 Other products 16 15 12 16 1,096 1,071 1,085 1,063 Containerboard, Packaging and Recycling: Containerboard 86 94 91 113 Packaging 929 916 914 897 Recycling 87 87 81 89 Bags 20 20 20 23 Other products 47 43 46 46 1,169 1,160 1,152 1,168 Real Estate and Related Assets 596 591 1,016 911 Corporate and Other 146 135 154 158 Less sales of discontinued operations (22) (193) (28) (201) $5,582 $5,656 $5,868 $5,685 Contribution (charge) to earnings: Q3 Q4 (in millions) Sept. 25, Sept. 26, Dec. 25, Dec. 26, 2005 2004 2005 2004 Timberlands (1)(2) $191 $450 $183 $217 Wood Products (3)(4)(5)(6) 124 362 26 72 Cellulose Fiber and White Papers (7) (2) 80 (477) 35 Containerboard, Packaging and Recycling (8)(9) 36 82 (188) 81 Real Estate and Related Assets (10) 145 155 250 217 Corporate and Other (11)(12)(13) 101 (45) 33 (83) $595 $1,084 $(173) $539 Net sales and revenues (in millions): Year ended Dec. 25, Dec. 26, 2005 2004 Timberlands: Logs $761 $822 Other products 286 280 1,047 1,102 Wood Products: Softwood lumber 3,624 3,915 Plywood 735 929 Veneer 44 44 Composite panels 497 501 OSB 1,164 1,390 Hardwood lumber 390 365 Engineered I-Joists 756 678 Engineered Solid Section 896 734 Logs 62 125 Other products 1,227 1,162 9,395 9,843 Cellulose Fiber and White Papers: Pulp 1,482 1,471 Paper 2,417 2,226 Coated groundwood 180 156 Liquid packaging board 203 208 Other products 54 54 4,336 4,115 Containerboard, Packaging and Recycling: Containerboard 395 368 Packaging 3,710 3,584 Recycling 352 347 Bags 83 80 Other products 167 156 4,707 4,535 Real Estate and Related Assets 2,915 2,495 Corporate and Other 600 575 Less sales of discontinued operations (371) (734) $22,629 $21,931 Contribution (charge) to earnings: Year ended (in millions) Dec. 25, Dec. 26, 2005 2004 Timberlands (1)(2) $784 $1,027 Wood Products (3)(4)(5)(6) 485 1,055 Cellulose Fiber and White Papers (7) (444) 104 Containerboard, Packaging and Recycling (8)(9) (5) 249 Real Estate and Related Assets (10) 734 610 Corporate and Other (11)(12)(13) 216 (271) $1,770 $2,774 (1) The 2004 third quarter includes a $271 million gain on the sale of timberlands in Georgia and a $5 million gain from a tenure reallocation agreement with the British Columbia government. (2) The first quarter of 2005 includes $3 million of charges related to the closure of facilities. The third quarter of 2005 includes a $5 million loss related to hurricane damage. The fourth quarter of 2005 includes charges of $3 million related to the closure of facilities and $6 million for losses associated with hurricane damage. (3) The first, second, third and fourth quarters of 2005 include charges of $22 million, $27 million, $19 million and $16 million, respectively, or $84 million year-to-date, for countervailing and anti-dumping duties and related costs. The first, second, third and fourth quarters of 2004 include charges of $26 million, $34 million, $31 million and $27 million, respectively, or $118 million year-to-date, for countervailing and anti- dumping duties and related costs. (4) The second quarter of 2005 includes an $18 million charge related to alder litigation. The third quarter of 2005 includes $9 million of income related to the reduction of reserves for alder litigation and an insurance settlement related to product liability claims. The first quarter of 2004 includes a $49 million charge for the settlement of lawsuits involving the market for Pacific Northwest alder logs. The second quarter of 2004 includes a $16 million charge resulting from an adverse judgment in a lawsuit involving the market for Pacific Northwest alder logs. The third quarter of 2004 includes a $20 million gain due to the reduction of the reserve for hardboard siding claims. (5) The second quarter of 2005 includes a $6 million gain related to a tenure reallocation agreement with the British Columbia government. The third quarter of 2004 includes a $20 million gain from a tenure reallocation agreement with the British Columbia government. (6) The first, second, third and fourth quarters of 2005 include charges of $1 million, $1 million, $6 million and $91 million, respectively, associated with the closure of facilities. The first quarter of 2004 includes a credit of $2 million for the reversal of closure costs accrued in prior years and a $33 million gain on the sale of an oriented strand board mill in Slave Lake, Alberta. The second quarter of 2004 includes a $5 million net loss on the sale of facilities. The third quarter of 2004 includes a $2 million net gain on the sale or closure of facilities. The fourth quarter of 2004 includes charges of $3 million for the closure of facilities and a gain of $36 million on the sale of facilities. (7) The third and fourth quarters of 2005 include net charges of $22 million and $427 million, respectively, related to facility closures. The second quarter of 2004 includes a $2 million asset impairment charge related to assets held for sale. (8) The first and fourth quarters of 2005 include charges of $12 million and $38 million, respectively, associated with the settlement of linerboard antitrust lawsuits. The third quarter of 2005 includes a $1 million loss related to hurricane damage. (9) The first, second, third and fourth quarters of 2005 include charges of $4 million, $2 million, $1 million and $130 million, respectively, for the closure of facilities. The first quarter of 2004 includes closure costs of $3 million. The second quarter of 2004 includes a net gain of $1 million on the sales of a facility and a joint venture investment. The third quarter of 2004 includes closure costs of $12 million, including a pension termination charge of $9 million related to a closure that occurred in a previous year. The fourth quarter of 2004 includes a credit of $3 million for the reversal of closure costs accrued in prior years. (10) The first, second, third and fourth quarters of 2005 include net gains (losses) on land and lot sales of $57 million, $21 million, ($1) and $2 million, respectively. The fourth quarter of 2005 also includes a $33 million charge for the impairment of unimproved land. The first quarter of 2004 includes a $22 million gain on a land sale. The third quarter of 2004 includes a gain of $18 million on the sale of a multi- family site. The fourth quarter of 2004 includes a $24 million net gain on land and lot sales. (11) The second quarter of 2005 includes a $64 million pretax gain on the sale of the company's operations in coastal British Columbia and $57 million of income related to the recognition of a deferred gain from previous timberlands sales. The third quarter of 2005 includes a $115 million gain on the sale of an investment in a joint venture. The fourth quarter of 2005 includes a $57 million gain on the sale of the company's French composites operations and $43 million of income for the cumulative effect of a change to begin capitalizing Weyerhaeuser interest to assets of Weyerhaeuser Real Estate Company. The fourth quarter of 2004 includes a $7 million gain for the settlement of an insurance claim relating to the Cemwood litigation. (12) The fourth quarter of 2005 includes charges of $15 million related to the impairment of an investment in an equity affiliate and a $5 million charge related to the closure of facilities. The fourth quarter of 2004 includes charges of $29 million for the impairment of assets in the company's French composites operations, $24 million recognized in connection with a change in the method of estimating workers' compensation liabilities and $23 million for the net book value of technology donated to a university. (13) The first, second, third and fourth quarters of 2005 include net foreign exchange gains (losses) of $13 million, ($12) million, $38 million and ($20) million, respectively, for a year-to-date net gain of $19 million. The first, second, third and fourth quarters of 2004 include net foreign exchange gains (losses) of ($10) million, ($6) million, $16 million and $26 million, respectivley, for a $26 million net gain year-to-date. These gains and losses result primarily from fluctuations in Canadian and New Zealand exchange rates. WEYERHAEUSER COMPANY STATISTICAL INFORMATION (unaudited) Third party sales volumes: Q1 Q2 March 27, March 28, June 26, June 27, 2005 2004 2005 2004 Timberlands (thousands): Logs - cunits 864 1,044 863 954 Wood Products (millions): Softwood lumber - board feet 2,057 2,054 2,355 2,393 Plywood - square feet (3/8") 537 642 600 668 Veneer - square feet (3/8") 60 55 59 60 Composite panels - square feet (3/4") 299 301 317 324 Oriented strand board - square feet (3/8") 908 981 1,041 1,143 Hardwood lumber - board feet 102 103 114 117 Engineered I-Joists - LF 108 108 138 132 Engineered Solid Section - CF 9 8 10 10 Logs - cunits (in thousands) 187 170 177 279 Cellulose Fiber and White Papers (thousands): Pulp - air-dry metric tons 629 624 587 642 Paper - tons 736 741 742 718 Coated groundwood - tons 58 59 62 61 Liquid packaging board - tons 60 66 65 72 Paper converting - tons 475 467 494 459 Containerboard, Packaging and Recycling (thousands): Containerboard - tons 295 250 259 221 Packaging - MSF 17,354 18,146 18,600 18,917 Recycling - tons 692 678 695 701 Kraft bags and sacks - tons 23 24 22 23 Real Estate and Related Assets: Single-family homes sold 1,378 1,506 1,525 1,564 Single-family homes closed 1,189 1,065 1,279 1,216 Single-family homes sold but not closed at end of period 2,561 2,702 2,807 3,050 Third party sales volumes: Q3 Q4 Sept. 25, Sept. 26, Dec. 25, Dec. 26, 2005 2004 2005 2004 Timberlands (thousands): Logs - cunits 886 904 939 1,018 Wood Products (millions): Softwood lumber - board feet 2,179 2,299 2,059 2,144 Plywood - square feet (3/8") 558 672 485 647 Veneer - square feet (3/8") 51 55 61 55 Composite panels - square feet (3/4") 308 315 305 294 Oriented strand board - square feet (3/8") 1,008 1,078 991 1,011 Hardwood lumber - board feet 105 102 106 95 Engineered I-Joists - LF 125 133 113 123 Engineered Solid Section - CF 10 10 9 9 Logs - cunits (in thousands) 41 237 46 248 Cellulose Fiber and White Papers (thousands): Pulp - air-dry metric tons 653 633 633 659 Paper - tons 757 737 761 680 Coated groundwood - tons 56 60 56 63 Liquid packaging board - tons 64 69 69 69 Paper converting - tons 494 470 501 443 Containerboard, Packaging and Recycling (thousands): Containerboard - tons 238 245 254 285 Packaging - MSF 18,560 18,287 19,117 17,535 Recycling - tons 665 645 676 670 Kraft bags and sacks - tons 22 23 22 25 Real Estate and Related Assets: Single-family homes sold 1,608 1,313 1,174 992 Single-family homes closed 1,257 1,345 1,922 1,638 Single-family homes sold but not closed at end of period 3,158 3,018 2,410 2,372 Third party sales volumes: Year ended Dec. 25, Dec. 26, 2005 2004 Timberlands (thousands): Logs - cunits 3,552 3,920 Wood Products (millions): Softwood lumber - board feet 8,650 8,890 Plywood - square feet (3/8") 2,180 2,629 Veneer - square feet (3/8") 231 225 Composite panels - square feet (3/4") 1,229 1,234 Oriented strand board - square feet (3/8") 3,948 4,213 Hardwood lumber - board feet 427 417 Engineered I-Joists - LF 484 496 Engineered Solid Section - CF 38 37 Logs - cunits (in thousands) 451 934 Cellulose Fiber and White Papers (thousands): Pulp - air-dry metric tons 2,502 2,558 Paper - tons 2,996 2,876 Coated groundwood - tons 232 243 Liquid packaging board - tons 258 276 Paper converting - tons 1,964 1,839 Containerboard, Packaging and Recycling (thousands): Containerboard - tons 1,046 1,001 Packaging - MSF 73,631 72,885 Recycling - tons 2,728 2,694 Kraft bags and sacks - tons 89 95 Real Estate and Related Assets: Single-family homes sold 5,685 5,375 Single-family homes closed 5,647 5,264 Single-family homes sold but not closed at end of period 2,410 2,372 Total production volumes: Q1 Q2 March 27, March 28, June 26, June 27, 2005 2004 2005 2004 Timberlands (thousands): Fee Depletion - cunits 2,248 2,265 2,231 2,404 Wood Products (millions): Softwood lumber - board feet 1,821 1,760 1,869 1,881 Plywood - square feet (3/8") 303 422 302 405 Veneer - square feet (3/8") (1) 517 585 529 609 Composite panels - square feet (3/4") 267 268 282 281 Oriented strand board - square feet (3/8") 1,007 1,031 1,019 1,056 Hardwood lumber - board feet 92 89 96 96 Engineered I-Joists - LF 133 110 132 124 Engineered Solid Section - CF 11 9 10 11 Cellulose Fiber and White Papers (thousands): Pulp - air-dry metric tons 621 619 614 636 Paper - tons (2) 763 743 752 736 Coated groundwood - tons 55 55 59 61 Liquid packaging board - tons 60 61 64 67 Paper converting - tons 475 460 487 442 Containerboard, Packaging and Recycling (thousands): Containerboard - tons (3) 1,503 1,503 1,581 1,598 Packaging - MSF 18,628 19,493 19,915 20,208 Recycling - tons (4) 1,624 1,607 1,673 1,707 Kraft bags and sacks - tons 23 24 22 23 Total production volumes: Q3 Q4 Sept. 25, Sept. 26, Dec. 25, Dec. 26, 2005 2004 2005 2004 Timberlands (thousands): Fee Depletion - cunits 2,098 2,189 2,153 2,155 Wood Products (millions): Softwood lumber - board feet 1,651 1,819 1,645 1,727 Plywood - square feet (3/8") 296 405 254 396 Veneer - square feet (3/8") (1) 486 592 447 600 Composite panels - square feet (3/4") 268 272 263 245 Oriented strand board - square feet (3/8") 1,017 1,022 1,035 972 Hardwood lumber - board feet 91 84 85 80 Engineered I-Joists - LF 108 136 110 134 Engineered Solid Section - CF 10 11 10 10 Cellulose Fiber and White Papers (thousands): Pulp - air-dry metric tons 663 652 604 639 Paper - tons (2) 765 766 780 761 Coated groundwood - tons 60 62 60 62 Liquid packaging board - tons 69 71 71 67 Paper converting - tons 483 471 505 465 Containerboard, Packaging and Recycling (thousands): Containerboard - tons (3) 1,597 1,604 1,587 1,586 Packaging - MSF 19,416 19,473 20,130 18,648 Recycling - tons (4) 1,716 1,703 1,730 1,701 Kraft bags and sacks - tons 21 23 22 24 Total production volumes: Year ended Dec. 25, Dec. 26, 2005 2004 Timberlands (thousands): Fee Depletion - cunits 8,730 9,013 Wood Products (millions): Softwood lumber - board feet 6,986 7,187 Plywood - square feet (3/8") 1,155 1,628 Veneer - square feet (3/8") (1) 1,979 2,386 Composite panels - square feet (3/4") 1,080 1,066 Oriented strand board - square feet (3/8") 4,078 4,081 Hardwood lumber - board feet 364 349 Engineered I-Joists - LF 483 504 Engineered Solid Section - CF 41 42 Cellulose Fiber and White Papers (thousands): Pulp - air-dry metric tons 2,502 2,546 Paper - tons (2) 3,060 3,006 Coated groundwood - tons 234 240 Liquid packaging board - tons 264 266 Paper converting - tons 1,950 1,838 Containerboard, Packaging and Recycling (thousands): Containerboard - tons (3) 6,268 6,291 Packaging - MSF 78,089 77,822 Recycling - tons (4) 6,743 6,718 Kraft bags and sacks - tons 88 94 (1) Veneer production represents lathe production and includes volumes that are further processed into plywood and engineered lumber products by company mills. (2) Paper production includes unprocessed rolls and converted paper volumes. (3) Containerboard production represents machine production and includes volumes that are further processed into packaging and kraft bags and sacks by company facilities. (4) Recycling production includes volumes processed in Weyerhaeuser recycling facilities that are consumed by company facilities and brokered volumes. WEYERHAEUSER COMPANY STATISTICAL INFORMATION CONDENSED CONSOLIDATED BALANCE SHEET (unaudited) (in millions) March 27, June 26, Sept. 25, Dec. 25, Dec. 26, Assets 2005 2005 2005 2005 2004 Weyerhaeuser Current assets: Cash and short-term investments $402 $1,704 $885 $818 $1,044 Receivables, less allowances 1,816 1,987 1,948 1,727 1,534 Inventories 2,109 2,004 1,977 1,917 1,876 Prepaid expenses 633 611 580 414 588 Assets of discontinued operations 1,166 41 38 -- 1,183 Total current assets 6,126 6,347 5,428 4,876 6,225 Property and equipment 11,439 11,170 11,089 10,510 11,661 Construction in progress 323 451 544 533 268 Timber and timberlands at cost, less depletion charged to disposals 3,712 3,709 3,691 3,705 3,733 Investments in and advances to equity affiliates 491 495 496 486 489 Goodwill 2,997 2,977 2,988 2,982 2,996 Deferred pension and other assets 1,197 1,249 1,309 1,314 1,201 Restricted assets held by special purpose entitites 914 916 914 916 909 27,199 27,314 26,459 25,322 27,482 Real Estate and Related Assets Cash and short-term investments 5 11 4 286 153 Receivables, less allowances 60 57 49 42 43 Real estate and land for sale and development 2,083 2,333 2,288 2,222 1,947 Other assets 323 278 357 357 329 2,471 2,679 2,698 2,907 2,472 Total assets $29,670 $29,993 $29,157 $28,229 $29,954 Liabilities and Shareholders' Interest Weyerhaeuser Current liabilities: Notes payable and commercial paper $2 $2 $3 $3 $3 Current maturities of long-term debt 95 225 182 189 488 Accounts payable 1,122 1,198 1,144 1,241 1,130 Accrued liabilities 1,311 1,654 1,560 1,622 1,431 Liabilities of discontinued operations 301 30 27 -- 292 Total current liabilities 2,831 3,109 2,916 3,055 3,344 Long-term debt 9,263 8,926 8,010 7,604 9,277 Deferred income taxes 4,355 4,320 4,396 4,035 4,351 Deferred pension, other postretirement benefits and other liabilities 1,492 1,558 1,583 1,591 1,497 Liabilities (nonrecourse to Weyerhaeuser) held by special purpose entities 820 784 783 764 815 18,761 18,697 17,688 17,049 19,284 Real Estate and Related Assets Notes payable and commercial paper 2 5 3 7 2 Long-term debt 869 854 852 851 867 Other liabilities 533 588 488 522 546 1,404 1,447 1,343 1,380 1,415 Total liabilities 20,165 20,144 19,031 18,429 20,699 Shareholders' interest 9,505 9,849 10,126 9,800 9,255 Total liabilities and shareholders' interest $29,670 $29,993 $29,157 $28,229 $29,954 STATEMENT OF CASH FLOWS Q1 Q2 SELECTED INFORMATION (unaudited) March 27, March 28, June 26, June 27, (in millions) 2005 2004 2005 2004 (Weyerhaeuser only, excludes Real Estate & Related Assets) Net cash from operations $(203) $(89) $713 $787 Cash paid for property and equipment (117) (79) (196) (80) Cash paid for timberlands reforestation (12) (12) (6) (6) Cash received from issuances of debt -- -- 1 -- Revolving credit facilities, notes and commercial paper borrowings, net 19 67 23 (80) Payments on debt (404) (60) (206) (813) Proceeds from equity offering -- -- -- 954 Proceeds from the sale of operations -- -- 1,107 -- STATEMENT OF CASH FLOWS Q3 Q4 SELECTED INFORMATION (unaudited) Sept. 25, Sept. 26, Dec. 25, Dec. 26, (in millions) 2005 2004 2005 2004 (Weyerhaeuser only, excludes Real Estate & Related Assets) Net cash from operations $441 $592 $669 $745 Cash paid for property and equipment (220) (93) (310) (222) Cash paid for timberlands reforestation (6) (5) (8) (7) Cash received from issuances of debt -- -- -- 1 Revolving credit facilities, notes and commercial paper borrowings, net (40) (6) 170 35 Payments on debt (965) (253) (603) (742) Proceeds from equity offering -- -- -- -- Proceeds from the sale of operations -- -- 102 -- STATEMENT OF CASH FLOWS Year ended SELECTED INFORMATION (unaudited) Dec. 25, Dec. 26, (in millions) 2005 2004 (Weyerhaeuser only, excludes Real Estate & Related Assets) Net cash from operations $1,620 $2,035 Cash paid for property and equipment (843) (474) Cash paid for timberlands reforestation (32) (30) Cash received from issuances of debt 1 1 Revolving credit facilities, notes and commercial paper borrowings, net 172 16 Payments on debt (2,178) (1,868) Proceeds from equity offering -- 954 Proceeds from the sale of operations 1,209 --

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